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Godrej Agrovet sets price range for up to $178 million IPO

MUMBAI - India's Godrej Agrovet Ltd has set a price range of 450-460 rupees a share for its initial public offering to raise up to 11.6 billion rupees ($177.6 million), according to a public notice on Tuesday.

The animal-feed producer is selling new shares worth up to 2.92 billion rupees in the IPO, while its main shareholder Godrej Industries is selling secondary shares of up to 3 billion rupees.

A unit of Singapore's Temasek Holdings will sell up to 12.3 million shares, which at the upper end of the price range would be worth 5.66 billion rupees.

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